The opportunity for middle-market senior housing is vast — and so are the number of markets that may be a good fit for Clover Management communities. From New York and Pennsylvania to Ohio and Indiana, the Williamsville, New York-based company is expanding its model of reasonably priced senior housing communities. Today, Clover has 35 occupied […]
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The news on Monday that Tom DeRosa had stepped down as CEO of Welltower (NYSE: WELL) surprised equity analysts who cover the company, and while they expressed confidence in his replacement, some also had questions about what the leadership change means for the future direction of the real estate investment trust (REIT). The sense of […]
In addition to promoting Shankh Mitra to CEO on Monday, Welltower (NYSE: WELL) announced its second nine-figure senior housing sale in the last week. The Toledo, Ohio-based health care real estate investment trust (REIT) is under contract to sell an 80% stake in a six-property, 507-unit portfolio in Massachusetts for $200 million. That represents a […]
Welltower (NYSE: WELL) CEO Tom DeRosa is stepping down, and executive Shankh Mitra is filling his place. DeRosa is leaving his role as chairman and CEO after leading Welltower for more than six years, the Toledo, Ohio-based real estate investment trust (REIT) announced Monday afternoon. The move was effective Monday. Mitra, formerly Welltower’s chief operating […]
ProMedica is phasing out the HCR ManorCare name. The non-profit health system on Friday announced that it’s moving its HCR ManorCare chain of nursing homes and senior living communities under the new “ProMedica Senior Care” moniker. The company is changing the name of facilities that operate under its senior living brand, Arden Courts, as well […]
PGIM Real Estate provided a $460 million loan to help fund the acquisition and recapitalization of a 10-property senior living portfolio operated by Seattle-based Merrill Gardens. The announcement of this financing, made on Thursday by PGIM Real Estate, sheds further light on this deal. Previously, local news sources reported that certain communities had changed ownership, […]
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Recent local news reports suggest that Toledo, Ohio-based real estate investment trust Welltower (NYSE: WELL) has sold its stake in all 10 communities in its senior housing operating portfolio operated by Seattle-based Merrill Gardens. Public records in Santa Clara County, California, show that Welltower recently sold a Merrill Gardens community located in San Jose and […]
A former vice president with Welltower (NYSE: WELL) has joined Oakmont Management Group as its CFO and chief investment officer. The Windsor, California-based company has named Kevin Tyler to the role. Tyler previously worked as vice president and head of the west coast office for Welltower, where he had a hand in managing the Toledo, […]
